Imperial's Logista Offer Accepted

Source from:  tr.itsmyiq.com May 9, 2008 05/13/2008

The Imperial Tobacco Group's mandatory cash offer of €52.50 per share for the outstanding stock in Logista (Compañía de Distribución Integral Logista, S.A.) has been accepted in respect of 37.30 per cent of that stock, bringing the company's holding, through its Altadis subsidiary, to 96.92 per cent. In a note posted on its website, Imperial said settlement of the offer, amounting to €866,512,552.50, was expected to take place on May 13. It said also that it intended to use the squeeze-out mechanism available to it compulsorily to acquire all of the outstanding Logista shares. The Logista shares will be de-listed from the stock exchanges of Madrid, Barcelona, Bilbao and Valencia following completion of the squeeze-out process. Enditem